Tech Leads Broad Rally after May Jobs Report, SPX Closes Near All-time High on May 7...

 
© 2021

 
Jerome Powell, Fed Chairman, spoke Friday at 7 am ET on the BIS Green Swan virtual conference panel discussion with no apparent influence on /ES futures.  Futures did rise after May’s Jobs Report at 8:30 am ET.
 
SPX opened higher and rallied throughout the day to its second highest close ever, closing less than 3 points below its all-time closing high on May 7.    Semiconductor stocks SMH opened higher and closed higher and bounced above the high of the low day in its 2-day bull flag. 
 
DJI +179.35, +0.52%, closed at 34,756.  CRM, MSFT, GS and MMM were the largest point gainers on Friday.
NDX +241.09, +1.78%, closed at 13,770.
SPX +37.04, +0.88%, closed at 4,229.
 
TSLA +4.58%, channel bounce setup.
 
SPY = bull flag bounce, HBO setup.
DIA = bull flag bounce.
QQQ = bull flag bounce, HBO setup.
IWM = bull flag setup.
 
Ten of eleven sectors were higher on Friday, led by XLK, XLC and XLY.
 
Technology leaders: IPGP, ADSK NVDA, JNPR
Communication Services leaders: TTWO, TWTR, EA, GOOGL
Consumer Discretionary leaders: TSLA, APTV, EBAY, TSCO
 
SPY up 3.83 at 422.60, on 55.9 million shares, below average volume, up on lower volume. 
VIX down 1.62 at 16.42
 
CRM, MSFT, INTC, AAPL led the DJIA, 23 advancers, +7
TSLA, IPGP, TTWO, ADSK led the SPX, 338 advancers.
DOCU, MRNA, ZM, BIIB led the NDX, 90 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up: QQQ, SPY, DIA, IWM
Down:
 
Advancers strengthened on Friday as advancers led 2,117 to 1,189 on the NYSE and led 2,577 to 1,692 on the NASDAQ.
 
The SPY MFC green line is pointed up at 86.4 and is bullish.  SPY bounced in its bull flag and rallied to resistance for a BO setup. 
 
 
Uptrend sectors:  XLRE, XLF, XLE, XLB, XLI, XLC, XLP, XLK, XLY, XLV, XLU,
Neutral sectors: 
Down trend sectors:
 
The 6-month intermediate trend is up.  The ten-day trend is up.
 
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Up a little
 
90 of 100 NDX stocks closed higher on Friday.
 
68 NDX stocks are above their 30 DMA:  COST, CERN, ALXN, MDLZ, KHC, PEP, TMUS, SGEN, CSCO, PAYX, INTU, WDC, TCOM, NTES, ATVI, FB, MXIM, ADI, ADP, GOOGL, IDXX, ILMN, MRVL, NXPI, ZM, NVDA, PTON, AMAT, ASML, AVGO, CMCSA, EA, LRCX, MCHP, SNPS, TXN, MRNA, PYPL, SIRI, AMD, EBAY, EXC, REGN, XLNX, JD, MAR, PDD, DXCM, MNST, WBA, ADBE, ADSK, BIIB, CHKP, CHTR, CPRT, CTAS, DOCU, FAST, GILD, INCY, INTC, KLAC, LULU, MSFT, MU, QCOM, TEAM,
 
 
NDX Stocks to Watch on Monday:
Moving Above 30 DMA = 18
ADBE, ADSK, BIIB, CHKP, CHTR, CPRT, CTAS, DOCU, FAST, GILD, INCY, INTC, KLAC, LULU, MSFT, MU, QCOM, TEAM,
 
Moving Below 30 DMA = 0
 
                                                                                                                   
Add Comments here:

SPX Opens Lower, Rallies from Intra-day Support and Closes Lower...Jobs Report for May Friday before the Open...

 
© 2021
 
Friday morning:
7 am ET, Jerome Powell, Fed Chairman, will speak on a panel discussion at the Green Swan 2021 virtual conference sponsored by the Bank for International Settlements (BIS).  Topic is Central banks and climate change.
 
8:30 am ET:  May Employment Situation, Jobs Report
 
 
SPX opened lower and pulled back to its 30 DMA and bounced forming a hammer-like doji.    Semiconductor stocks SMH opened lower, pulled back in a BO test and formed a 2-day bull flag setup. 
 
DJI -23.34, -0.07%, closed at 34,577.  BA, CRM, HD and MSFT were the largest point decliners on Thursday.
NDX -146.11, -1.07%, closed at 13,529.
SPX -15.27, -0.36%, closed at 4,192.                 
 
TSLA -5.33%, bounce down continuation.
 
SPY = BO test pullback, re-breakout, bull flag setup.
DIA = BO test pullback, re-breakout, bull flag setup.
QQQ = pullback, bull flag setup.
IWM = BO test pullback, re-breakout, 1-day bull flag setup.
 
Five of eleven sectors were higher on Thursday, led by XLP, XLU and XLV.
 
Consumer Staples leaders: PG, WBA, SJM, KR
Utilities leaders: NRG, ES, PNW, EXC
Health Care leaders: CERN, MRK, ABT, LLY
 
SPY down 1.56 at 418.77, on 58.1 million shares, below average volume, down on higher volume. 
VIX up .56 at 18.04
 
DOW, MRK, PG, WBA led the DJIA, 16 advancers, -4
F, GM, FTI, NRG led the SPX, 242 advancers.
CERN, DLTR, MRNA, DXCM led the NDX, 31 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up:
Down: DIA, SPY, IWM, QQQ,
 
Advancers weakened on Thursday as decliners led 1,848 to 1,440 on the NYSE and led 2,489 to 1,788 on the NASDAQ.
 
The SPY MFC green line is flat at 83 and is bullish with a potential shift to counter-trend defensive.  SPY did a BO test pullback, and formed a bull flag setup. 
 
 
Uptrend sectors:  XLRE, XLF, XLE, XLB, XLI, XLC, XLP, XLK, XLY, XLV, XLU,
Neutral sectors: 
Down trend sectors:
 
The 6-month intermediate trend is up.  The ten-day trend is up.
 
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Down a little
 
31 of 100 NDX stocks closed higher on Thursday.
 
50 NDX stocks are above their 30 DMA:  COST, CERN, ALXN, MDLZ, KHC, PEP, TMUS, SGEN, CSCO, PAYX, INTU, WDC, TCOM, NTES, ATVI, FB, MXIM, ADI, ADP, GOOGL, IDXX, ILMN, MRVL, NXPI, ZM, NVDA, PTON, AMAT, ASML, AVGO, CMCSA, EA, LRCX, MCHP, SNPS, TXN, MRNA, PYPL, SIRI, AMD, EBAY, EXC, REGN, XLNX, JD, MAR, PDD, DXCM, MNST, WBA,
 
NDX Stocks to Watch on Friday:
Moving Above 30 DMA = 0
 
Moving Below 30 DMA = 9
CHTR, CPRT, CTAS, INTC, KLAC, MU, QCOM, SPLK, TEAM,
                                                                                                                   
                                                                                     
Add Comments here:

QQQ, SPY, DIA, IWM Slightly Higher as Trading Range Continues...

 
© 2021
 
 
SPX opened slightly higher and traded in and traded in a 19-point range and formed a doji candle pattern.    Semiconductor stocks SMH opened flat and traded higher in a bounce continuation. 
 
 
DJI +25.07, +0.07%, closed at 34,600.  V, AMGN, IBM and CVX were the largest point gainers on Wednesday.
NDX +21.21, +0.16%, closed at 13,675.
SPX +6.08, +0.14%, closed at 4,208.                  
 
TSLA -3.04%, bounce down from resistance.
 
SPY = narrow trading range below all-time high.
DIA = ST breakout continuation.
QQQ = six-day range below short-term resistance.
IWM = 3-week breakout continuation.
 
Six of eleven sectors were higher on Wednesday, led by XLE, XLRE and XLK.
 
Energy leaders: FTI, SLB, HFC, COG
Real Estate leaders: EQIX, IRM, SBAC, VTR
Technology leaders: NVDA, NLOK, MA, WU
 
SPY up .66 at 420.33, on 49.0 million shares, below average volume, down on lower volume. 
VIX down .42 at 17.48
 
WBA, CVX, V, IBM led the DJIA, 20 advancers, +7
FTI, SLB, ETSY, HFC led the SPX, 261 advancers.
MRNA, EBAY, NVDA, SPLK led the NDX, 54 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up: QQQ, SPY, DIA, IWM,
Down:
 
Advancers weakened on Wednesday as advancers led 1,833 to 1,489 on the NYSE and led 2,190 to 1,127 on the NASDAQ.
 
The SPY MFC green line is pointed up at 83.3 and is bullish.  SPY traded in a range and formed a doji. 
 
 
Uptrend sectors:  XLRE, XLF, XLE, XLB, XLI, XLC, XLP, XLK, XLY, XLV, XLU,
Neutral sectors: 
Down trend sectors:
 
The 6-month intermediate trend is up.  The ten-day trend is up.
 
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Sideways
 
54 of 100 NDX stocks closed higher on Wednesday.
 
59 NDX stocks are above their 30 DMA:  COST, CERN, ALXN, CHTR, MDLZ, KHC, PEP, TMUS, SGEN, CSCO, PAYX, INTU, WDC, TCOM, NTES, ATVI, FB, MXIM, ADI, ADP, CPRT, GOOGL, IDXX, ILMN, MRVL, NXPI, ZM, NVDA, PTON, AMAT, ASML, AVGO, CMCSA, CTAS, EA, KLAC, LRCX, MCHP, SNPS, TXN, MRNA, PYPL, TEAM, MU, SIRI, AMD, EBAY, EXC, QCOM, REGN, XLNX, JD, MAR, PDD, DXCM, INTC, MNST, SPLK, WBA,
 
NDX Stocks to Watch on Thursday:
Moving Above 30 DMA = 5
DXCM, INTC, MNST, SPLK, WBA,
 
Moving Below 30 DMA = 3
ALGN, BIDU, MAR,
                                                                                                                   
 
                                                                                     
Add Comments here:

IWM Gains 1%+ while SPY, QQQ Gap Up & Pull Back to Form Bearish Engulfing Candles...Energy, Real Estate, Materials Lead Sectors...

 
© 2021
 
 
SPY gapped up and moved to within ten cents of its all-time high on May 7 and within two minutes started pulling back from resistance forming a bearish engulfing candle pattern.  Semiconductor stocks SMH opened higher, traded in a range and closed down 37 cents. 
 
 
DJI +45.86, +0.13%, closed at 34,575.  GS, BA, AXP and CVX were the largest point gainers on Tuesday.
NDX -31.92, -0.23%, closed at 13,654.
SPX -3.07, -0.05%, closed at 4,202.                    
 
TSLA -0.21%, bounce pause.
 
SPY = gapped up, bearish engulfing at all-time resistance.
DIA = ST breakout continuation.
QQQ = bearish engulfing at short-term resistance.
IWM = 3-week breakout continuation.
 
Six of eleven sectors were higher on Tuesday, led by XLE, XLRE and XLB.
 
Energy leaders: DVN, MRO, SWN, APA
Real Estate leaders: SPG, VNO, VTR, HST
Basic Materials leaders: NUE, MOS, LYB, EMN
 
SPY down .37 at 419.67, on 54.1 million shares, below average volume, down on lower volume. 
VIX up 1.14 at 17.90
 
BA, DOW, GS, CVX led the DJIA, 13 advancers, -1
DVN, MRO, SWN, APA led the SPX, 285 advancers.
PDD, JD, BIDU, DLTR led the NDX, 31 advancers. 
 
The two-year trend term is up.  The one-year trend is up.
 
Up: IWM, DIA,
Down: SPY, QQQ,
 
Advancers strengthened on Tuesday as advancers led 2,441 to 940 on the NYSE and led 2,780 to 1,576 on the NASDAQ.
 
The SPY MFC green line is pointed up at 81.1 and is bullish.  SPY gapped up, bearish engulfing at resistance. 
 
 
Uptrend sectors:  XLRE, XLF, XLE, XLB, XLI, XLC, XLP, XLK, XLY, XLV, XLU,
Neutral sectors: 
Down trend sectors:
 
The 6-month intermediate trend is up.  The ten-day trend is up.
 
3-month Intermediate Term Market Trend: Up
3-day Short Term Market Trend: Sideways
 
31 of 100 NDX stocks closed higher on Tuesday.
 
57 NDX stocks are above their 30 DMA:  COST, CERN, ALXN, CHTR, MDLZ, KHC, PEP, TMUS, SGEN, CSCO, PAYX, INTU, WDC, TCOM, NTES, ATVI, FB, MXIM, ADI, ADP, CPRT, GOOGL, IDXX, ILMN, MRVL, NXPI, ZM, ALGN, NVDA, PTON, AMAT, ASML, AVGO, CMCSA, CTAS, EA, KLAC, LRCX, MCHP, SNPS, TXN, MRNA, PYPL, TEAM, MU, SIRI, AMD, EBAY, EXC, QCOM, REGN, XLNX, BIDU, JD, MAR, PCAR, PDD,
 
NDX Stocks to Watch on Wednesday:
Moving Above 30 DMA = 5
BIDU, JD, MAR, PCAR, PDD
 
Moving Below 30 DMA = 8
ADBE, ADSK, BKNG, DXCM, FAST, INCY, SBUX, VRSN,          
 
                                                                                     
Add Comments here: